BITCOIN >>AUGUST 11<< 2 SHORT TERM SUPPORTS IN SIGHT
The BTC bear market is far from being over. I suspect the first leg of the last zigzag to end around one of the 2 levels highlighted in yellow before an eventual correction and then another downtrend.
Remember, my wave targets and channels are estimate target levels and are based on Fibonacci and Elliot Wave Principles. They are subject to possible adjustments. Timeframe was not taken into consideration when projecting targets.
DISCLAIMER: THIS IS NOT PROFESSIONAL ADVICE BUT MY PERSONAL REFLECTION OF THE MARKET.
Remember, my wave targets and channels are estimate target levels and are based on Fibonacci and Elliot Wave Principles. They are subject to possible adjustments. Timeframe was not taken into consideration when projecting targets.
DISCLAIMER: THIS IS NOT PROFESSIONAL ADVICE BUT MY PERSONAL REFLECTION OF THE MARKET.
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So far everything is being played out perfectly. However wave may not be over. Corrections are bitches and predicting them is not easy. Wave 3 was extended. After such an extension wave 4 usually retraces not more than 23%. It may go further though. Here is another scenario in case wave 4 is an irregular correction. Just an estimate.
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I had to adjust the end of wave 4 which also changes possible targets for wave 5. Here is the updated scenario
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Again I had to readjust wave 4. Here is the updated chart
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We assist to extension of the c wave which will be the end of wave 4. A another reason why we should never predict the end of a corrective wave.